Municipal authority approves audit

November 3, 2011

The Ridgway Township Municipal Authority approved the township's fiscal year audit during Thursday night's regular meeting.
Treasurer Jeff Schutz reported a clean audit.
"In our opinion the financial statements refer to or present fairly all material aspects of the financial position of the Ridgway Township Municipal Authority and respective changes and financial position and cash flows for the year ended in conformity with accounting principles accepted by the United States of America," Schutz said. "That's what you call a clean opinion. That is important and that is what they call a clean audit."
Schutz reported the township's total assets are $6,027,336 with a total net assets of $3,380,810.
"That's good," Schutz said. "That is the net assets or equity after you take your money we owe to PennVEST and for the Montmorenci project."

Pick up a copy of the Friday, Nov. 4, 2011 edition of The Ridgway Record for more.